Cryptocurrency

Dogecoin

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 <p class="paragraph">As the majority of assets in the cryptocurrency market have gone into a bearish mode, the dog-themed meme crypto asset Dogecoin (DOGE) has followed suit, but regardless of the pessimistic mood, its community has been growing at an unprecedented rate.</p>
 <p class="paragraph">Specifically, Dogecoin has witnessed a growth in the number of crypto <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> holding it at the <a rel="noopener noreferrer nofollow" title="fastest" href="https://thebittimes.com/tag/fastest.html">fastest</a> rate in its decade-long <a rel="noopener noreferrer nofollow" title="history" href="https://thebittimes.com/tag/history.html">history</a>, adding around 413,800 new <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> in just two weeks, according to the data shared by <em>Santiment </em>in an X post on February 6.</p>
 <p class="paragraph">Indeed, the chart shared by the blockchain and cryptocurrency metrics platform’s team shows that there were close to 414k total addresses holding more than 0 DOGE since January 22, having recorded a 7.2% increase, which is the <a rel="noopener noreferrer nofollow" title="fastest" href="https://thebittimes.com/tag/fastest.html">fastest</a> growth rate of all time for the popular digital currency.</p>
 <figure class="wp-block-image"><img decoding="async" width="900" height="593" src="https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp" alt class="wp-image-153352" srcset="https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 900w, https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 300w, https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 768w" sizes="(max-width: 900px) 100vw, 900px">
  <figcaption class="wp-element-caption"><em>DOGE network growth. Source: </em><em>Santiment</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-0-1-in-the-cards">$0.1 in the cards?</h2>
 <p class="paragraph">A week ago, mid-way into this massive growth trend, crypto trading expert Ali Martinez observed a record-breaking addition of 247,240 new DOGE addresses in the week up to January 29, remarking that a “sustained uptrend in network expansion could soon reflect positively on DOGE prices.”</p>
 <figure class="wp-block-image"><img decoding="async" width="900" height="593" src="https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp" alt class="wp-image-153351" srcset="https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 900w, https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 300w, https://cdn.thebittimes.com/images/2024/02/06/1467cb9b486c06b6ed4addce9e553ca9.webp 768w" sizes="(max-width: 900px) 100vw, 900px">
  <figcaption class="wp-element-caption"><em>Dogecoin addresses growth until January 29. Source: </em><em>Ali Marti</em><em>nez</em>
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       <h3 class="font-bold leading-6 " id="doge-could-go-this-high-if-it-gains-1-of-total-crypto-market-cap">DOGE could go this high if it gains 1% of total crypto market cap</h3>
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 <p class="paragraph">However, the positive effect of the parabolic network expansion on the price of Dogecoin is yet to materialize, as the famous dog crypto has sustained the currently negative sentiment demonstrated by the larger part of the industry, keeping it well below the coveted $0.1 level from December 2023.</p>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">At press time, DOGE was changing hands at the price of $0.078, indicating a decrease of 0.3% in the last 24 hours, adding up to the decline of 3.48% across the previous seven days and a loss of 2.77% over the month, as per the most recent chart data on February 6.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/06/709051e66e65f1a5a8f02f4706c28081.webp" alt class="wp-image-153353" srcset="https://cdn.thebittimes.com/images/2024/02/06/709051e66e65f1a5a8f02f4706c28081.webp 1200w, https://cdn.thebittimes.com/images/2024/02/06/709051e66e65f1a5a8f02f4706c28081.webp 300w, https://cdn.thebittimes.com/images/2024/02/06/709051e66e65f1a5a8f02f4706c28081.webp 1024w, https://cdn.thebittimes.com/images/2024/02/06/709051e66e65f1a5a8f02f4706c28081.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Dogecoin 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, the impressive surge in the number of new DOGE addresses could, indeed, assist the digital asset in growing its price in the near future. Still, this effect is yet to show any strength in the face of the strong downward pressure from the general crypto market.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/doge-wallets-soar-at-fastest-rate-in-its-history-tbt79003.html">https://thebittimes.com/doge-wallets-soar-at-fastest-rate-in-its-history-tbt79003.html</a></p>

DOGE wallets soar at fastest rate in its history

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